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[lloUSiL^OP     iitPRESBNTATIVES— SecJJEP    SkSH<  N.  1 

^  IlEFRESENTATIVES,  January  5,  ISOM.-Oxclued 


AMEXDMEXT  BY  MR.  SWAN. 

i  yKCTio.v    i.    T/te  Congress  of  the  Conf  derate  Slates  of  /rmrua  do 

2  enact.  Tint  Toi  tho  year  !.5  )4,an.l  fn-  ..!y.„ine  years  th3rea''ter. 

3  there   shall    be    levied  an   annual   tax  of   five  sixths  of  one  per 

4  centum. 

1  Sr.c.  2.     B    it  further  cnaJed,     That  the  value  of  real  esta'e 

2  -!i!]l  ho  asscssci  under  this  act,  as  follows:     If  within  five  years 
^  •  trom  the  date  of  the  passago  of  this  act  real  estate  has  been  sold, 

4  then    its   assessed  value    shall   bo  the    price   paid   by    the   last 

^5  purchaser,  if  it  has  not  been  so  soil,  then  it  sh  dl  be  assessed  ai 

6  its  market  value  on  1st  day  of  July,  1861). 

1  Sec.  3.   Be  it  further  enacted.     That  the    owner  of  real    estate 

2  may,  on  or  before  the   1st  day  of  July,   136  i,  pay  to  the  tax 

3  collector  for  his  county,    parish,    or    district,    the    tax  hereby 

4  levied,  or  at  his  option  execute  a  bond,  in  such   form  as  the 

5  Secretary  of  the   Treasury  may  direct,  for  the  amount  of  said 

6  tax,  in  which  bond  it  shall  be  stipulated  that  it  shall  bo  payable 

7  on  the  1st  day  of  January,  1S9J;     that  i;  shall  bear  interest  at 

8  the  rate  of  six  per  centum  per  annum,  payable  semi-annually,  en 


2 

9  1st  days  of  January  and   July  of  each  year,  and  further,  that 

10  on  the  1st   day  of  January  of    each  year,    there    shall  be  paid 

11  one  per  centum  as  a  sinking  fund,  "which  sinking  fund,  so  paid, 

12  shall  be  held  and  deemed,  Avhen  said  bond  shall  become  due  and 

13  payable,  to  have  fully  paid  and  discharged  the  same. 

1  Sec.  'J.  Be  it  fa  ther  enacted,    That  for  securing  the  payment 

2  of  the  tax  herein  levied,  or  of  the  bond  which,  under  this  act, 

3  may  be  executed  for  its  payment,  there  is,  oy  virtue  ©f  this  act, 

4  created  a  lien  upon  all  real  estate  herein  taxed,  in  favor  of  the 
6  Confederate    States   of    America,    superior   to   all    other   liens, 

6  mortgages,  or  incumbrances  of  any  kind  whatever. 

1  Sec  5.  Be  it  further  enacted,    That  if  there  be  a  failure  on  the 

2  part  of  the  owner  until  the  1st  day  of  July,  1SG4,  to  report  to 

3  the  proper  assessor  or  collector  his  real  estate  for  taxation,  or  to 

4  pay  said  tax,  or  failing  in  that  to  execute  the  bond  hereinbefore 

5  in  such  cases  required  to  be  given,   or  when  given  to  pay  the 
*  G  interest  and  sinking  fund  required  by  this  act  to  be  paid,  at  the 

7  time  payable,  then  said  real  estate,  or  so  much  thereof  as  may  be 

8  necessary  to  pay  said  bond,  and  the  interest  and  sinking  fund 

9  ohall  be  sold  at  public  sale  to  the  highest  bidder,  after  such  notice 

10  of  the  time  and  place  of  sale  as  is  directed  in  such  cases  by  the 

1 1  laws  of  the  State  in  which  the  real  estate  may  be.  The  title 
ii  conveyed  to  the  purchaser  by  the  tax  collector  under  any  suck 
13  gale  shall  be  held  by  all  courts  to  be  valid  and  indefensible. 


1  Sec.  6.     Be  it  further  enacted^  That  bonds  executed  by  owners 

"2  of  real  estate,  as  directed  by  this  act,  shall  be  deposited  with  the 

3  Secretary  of  the  Treasury,  to  be  held  or  sold  by  him  as  he,   iu 

4  his  discretion,  may  deem  best.     If  sold,  he  shall  endorse  thereon 

5  the  guaranty  of  the  Confederate  States,  that  said  bonds,  together 

6  with  the  accruing  interest  and  sinking  fund,  shall  be  promptly 

7  paid  :   Provided,  Said  bonds  shall  not  be  sold  for  less  than  theii 

8  par  value. 

1  Sec.  7.  Be  it  further  etiacteJ,  That  whether  the  bonds  remain 

2  in  the  treasury  or  be  sold,  still  the  payment  thereof,  in  whole  or 

3  in  part,  together  with  interest  and  sinking  fund,   shall  be  made 

4  to  the  treasury,  and  the   option   is  given   to   the  obligor  of  the 

5  bond,  to  pay  the  bond  in  whole  or  in  part,  at  any  time  before  the 

6  same  is  due.     If  such  payment  be  made,   it  shall  stop  after  ac- 

7  cruing  interest  and  sinking  fund  upon  the  amount  so  paid.     The 

8  sum  so  paid,  shall  be  credited  to  the  holder  of  the  bond,  and  no- 

9  tice  thereof,  shall  be  published  in  two  newspapers  printed  at  the 
10  capitoi. 

1  Sec  8.  Be  it  further  enadedy  That  real  estate  taxed  under  and 

2  by  virtue  of  this  act,  shall  not  again  be  taxed  for  the  payment  of 

3  any  portion  of  the  public  debt  now  existing. 

1  Sec.  9.  The  following  Exemptions  from  taxations,  under  this 

2  act,  shall  be  allowed,  to  wit : 

3  I.  Real  estate  of  each  head  of  a  family  to  the  value  of  five  hun- 


4 

4  dred  dollars,  and  for  each  minor  cliild  living  in  Vac  fainilv  to  the 

5  further  value  of  one   humlrtd   dull  us,    :in  I  for  c.ieii  ^.hi  ;;..'Lairiy 

6  engaged  in  the  army  or  navy,  or  wao  has  dijd  oi*  bocu  killoil  in 

7  the  military  or  naval  service,  and  who  was  amcra^jer  of  the  fuualv 

8  when  he  entered  the  service,  to  the  funli  •/•  vulaj  of  live  ];u; 

9  dollars. 

lU  II.  Real  estate  of  the  widow  of  any  ofii^cr.    sol  lior,   5;;:il;)!'  or 

11  marine,  who  may  have  died  or  been  killed  in  llie  military  or  i:;:vi;l 

13  service,  or  where  there  is  no   widow,  then   of  the  family,  bc^iiig 

13  minor  children,  to  the  value  of  two  thousand  dollars, 

14  III.  Real  estate  of  every  officer,  soldier,  sailor  orniaiin-^.  l\c~ 
lo  tually  engaged  in  the  military  or  naval  service,  to   the   value  <:f 

16  two  thousand  dollars. 

17  IV.  The  real  estate  of  the  States  of  the  Conf;}dsr3cy.  and  of 

18  municipal  corporations  held  for  publi"c   purposes,  and   l\i(:    . 

19  estate  of  hospitals,  apylum:^,  churches  and  schools. 


XT  /i 


